Manufacturing slowdown causes stocks slump
From BusinessWeek:
China’s benchmark stock index dropped for a seventh day, the longest losing streak in 18 months, as a bigger-than-expected slowdown in the country’s manufacturing last month added to evidence the economy is cooling.
Jiangxi Copper Co. and Shenhua Energy Co. paced losses by commodity producers as metal and oil prices declined. Aluminum Corp. of China Ltd., the nation’s biggest maker of the lightweight metal, slid 2.8 percent after cutting the price of alumina. Jiangsu Hengrui Medicine Co. fell among health-care companies on concern valuations are excessive

